Heaven Hill Closes Deep Eddy Vodka Acquisition
BARDSTOWN, KY / Austin, TX – Heaven Hill Brands, the nation’s largest independent, family-owned and operated distilled spirits supplier, completed the acquisition of Deep Eddy Vodka, the #1 fastest-growing spirits brand in the US, according to IRI, and its distillery from Eliza Spring, LLC, for an undisclosed amount.
Deep Eddy Vodka is one of the fastest-growing brands in the distilled spirits industry. Since its introduction in 2010 with the original Deep Eddy Sweet Tea Vodka and Deep Eddy Straight Vodka in 2011, the business has grown to over 500,000 cases today. Deep Eddy Vodka is propelled by its Austin-bred roots, use of all-natural fruit juices, production process and iconic brand imagery. The brand achieved extraordinary growth beginning in 2013 with the launch of the Deep Eddy Ruby Red Vodka that resulted in over 300% sales growth. In early 2015, Deep Eddy Lemon Vodka was launched and has further led to unprecedented growth for the business.
“Today starts us on the course to becoming the #1 Super Premium American Vodka in the US,” said Max L. Shapira, President of Heaven Hill Brands. “Our family is proud to carry on the culture, energy and excitement of Deep Eddy Vodka. Austin will continue to be core to the brand as the home base for Eric Dopkins and his entire team and the foundation of Deep Eddy Vodka’s culture and heritage.”
Perella Weinberg Partners LLP acted as financial advisor to Heaven Hill Brands and UBS Securities LLC acted as exclusive financial advisor to DE Spirits, LLC and Eliza Spring, LLC with respect to the transaction. Wyatt Tarrant & Combs LLP served as legal counsel to Heaven Hill Brands with respect to the transaction and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Kastner Huggins Reddien Gravelle LLP served as legal counsel to DE Spirits, LLC and Eliza Spring, LLC.